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A profitable ecotourism industry has arisen around this species involving organized "shark feeds", in which groups of reef sharks are attracted to divers using bait. Some US$6,000,000 is spent annually on shark viewing in the Bahamas, where at some sites a single living Caribbean reef shark has a value between US$13,000 and US$40,000 (compared to a one-time value of US$50–60 for a dead shark). This practice has drawn controversy, as opponents argue that the sharks may learn to associate humans with food, increasing the chances of a shark attack, and that the removal of reef fishes for bait may damage the local ecosystem. Conversely, proponents maintain that shark feeds contribute to conservation by incentivizing the protection of sharks and educating people about them. Thus far, there has been little evidence that shark feeds have increased the risk of attack in the surrounding area. Shark feeding has been outlawed off the coast of Florida, but continues at other locations in the Caribbean.
This sturdy shark is abundant in the Caribbean, and because of its average features, is often confused with other requiem sharks. Usually growing 6.5 to 10 feet long, these are the apex predator of their food web. They have been found ‘sleeping’ in caves and on the ocean floor, behavior that is still unexplained. There has been concern over eating these sharks because of the build-up of toxins in their flesh, but now they are valued for tourism more than food, which brings its own safety issues.
In older literature, the scientific name of this species was often given as C. menisorrah. The blacktail reef shark (C. wheeleri), native to the western Indian Ocean, is now regarded as the same species as the grey reef shark by most authors. It was originally distinguished from the grey reef shark by a white tip on the first dorsal fin, a shorter snout, and one fewer upper tooth row on each side. Based on morphological characters, vertebral counts, and tooth shapes, Garrick (1982) concluded the grey reef shark is most closely related to the silvertip shark (C. albimarginatus). This interpretation was supported by a 1992 allozyme phylogenetic analysis by Lavery.
The Caribbean reef shark is a viviparous species, meaning its developing embryos are nourished via a placental connection. The litters average four to six pups. Although this shark’s reproduction has not been studied in the northern hemisphere, but to the south, parturition occurs during the Amazon summer of November to December. Pregnant females are often found to have biting scars from males on the sides of their bodies, due to the aggressive behaviors of males during mating. Gestation is believed to take approximately one year. A pregnant female with biting scars and wounds on the sides of her body, taken off the coast of north-northeastern Brazil, carried four near-term embryos. One was a 27.5 in. (700 mm) long male and three were females measuring 27.0 in. (685 mm), 27.4 in. (697 mm), and 27.7 in. (704 mm) in length. Because she was carrying near-term embryos, it is postulated that this area may be a pupping ground. Although such captures have shed light on the topic, relatively little is known about the reproduction of the Caribbean reef shark. Much information has been obtained from a pregnant female carrying four near-term embryos off the coast of northeastern Brazil. This female had scars and wounds on her side. Because the shark carried near-term embryos, it is postulated that this area may be a pupping ground.